Brexit and The Precipice…”We do indeed stand on the edge of a precipice. Crucially – we are not over the edge, not yet. But it is right in front of us.”

Thursday, June 30, 2016
By Paul Martin

By: Daniel R. Amerman, CFA
Thursday, 30 June 2016

With the victory of the “Leave” camp in the June 23rd referendum in the United Kingdom, the world finds itself on the edge of a financial precipice.

Crucially – we are not over the edge, not yet. But it is right in front of us.

This is far more serious than anything that we have seen since 2008. And if we go over that edge then something potentially much worse than 2008 is in front of us. Which is exactly why Alan Greenspan is saying this is the worst financial situation of his lifetime, and why George Soros is now predicting that the disintegration of the EU and the euro is “practically irreversible”.

There are those who would tell you that Brexit was a shocking and unpredictable development that defies all reason and logic, and for which no one could be prepared. This is self-serving and likely self-reassuring talk for the political and media elite, but it is profoundly mistaken.

The most dangerous part of Brexit was that something like it was so completely predictable, and remains predictable in other nations, as are the potential and much worse consequences.

While it is true that the specifics of a referendum in the UK on the day of June 23rd, 2016 was not predictable far in advance, in broader terms, this risk has been coming at us like a freight train. It has been in plain sight for years now, as well as the potentially dire consequences. Everyone should have been prepared, and those in power should have been making some quite difference choices.

To show the plain dots that were there to be connected the entire time, I offer the two article excerpts below – in which those dots were identified and connected, as I did my best to explain the clearly visible danger. One I wrote in April of the 2015, and the other was in May of 2014.

The April of 2015 article excerpt (full article link here) is below. The “All It Takes Is One Election” section describes the concepts driving what would happen in June of 2016 in detail.

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter